Recent news from Tesla focused on changing the naming conventions for EVVs and the upcoming Model Y. January is also a month for the earnings statement for Tesla, Palo Alto, California, and the company released this in the fourth quarter of 2018 week. As in the previous quarter, the EV company achieved a profit for the last period of 2018.
The fact that Tesla is lining up two consecutive profitable neighborhoods is good news not only for the car company, but also for the entire field of electric vehicle manufacturers today and in the near future.
Tesla's success as a domestic and future global automaker with an upcoming factory in China makes it the flag bearer for all-electric vehicles. Practically all other major manufacturers have committed to e-production, but that did not prevent them from hiding their bets.
Just yesterday, for example, Volkswagen declared that the diesel cars recover from the diesel gate scandal stalled sales. CNN quoted Volkswagen board member Jürgen Stackmann as saying that diesel engines "will remain an important technology for years to come". This statement comes from a company that announced last October its intention to use the new MEB EV architecture in up to 50 new electric models.
Should Tesla fail, it would affect and slow down the entire electric vehicle industry as board members and investors in other companies are likely to focus on short-term profits. However, with the flourishing of Tesla, the pressure for global automakers will continue to exist and even continue to continue long-tail EV development programs.
The focus is not on dollars and cents, but on factors that directly affect how soon more of us will drive electric vehicles with or without a Tesla nameplate. Here are some highlights from the Tesla report for the fourth quarter of 2018:
The Telsa Model 3 became the top-selling passenger car in the United States in the third and fourth quarters of 2018.
The Model 3 was the best-selling premium vehicle in the US, including SUVs. European luxury cars have been leading sales in the US for years, but in 2018, the Tesla model took over 3.
The higher production of Model 3 and further efficiency gains reinforce Tesla's near-term prospects.
Tesla expects to start production of Model 3 at the end of 2019 in Shanghai.
Electric vehicles from all manufacturers sold 2018 hybrid electric vehicles (HEV) in the US.
By the end of 2020, Tesla expects to start full production in Nevada with the small SUV Model Y, which will be 75 percent owned by the Model 3 parts. With US SUVs significantly outperforming passenger cars, Tesla expects model Y revenue to exceed that of model 3.
In the fourth quarter, Tesla opened 27 new branch and service locations, now 379 worldwide, and 69 new Supercharger locations with a total of 1,421 stations around the world. Many of the new Supercharger stations have 20 to 50 charge levels, which better meets growing demand.
Tesla is developing V3 Supercharger technology, which dramatically reduces load times. V3 technology offers customers a shorter wait time. V3 also lowers the cost of Tesla as each station can serve more customers.